British publishing group Trinity Mirror refused to comment yesterday on fresh reports that its interests in the North had been earmarked for imminent disposal. The move would see the Derry Journal Group of newspapers, which includes titles in Donegal, change hands for the second time in five years.
It would also leave the Belfast-based NewsLetter up for sale, with both disposals likely to spark keen interest from Irish and international buyers. Potential domestic purchasers would include Cork-based Thomas Crosbie Holdings.
A Trinity spokesman said the firm had no comment to make on "speculative reports" on its future strategy. He said full details on a restructuring would be revealed on July 31st and not before. This will be led by the firm's new chief executive, Ms Sly Bailey.
According to a Financial Times report, Ms Bailey has ruled out the sale of the firm's national titles, preferring instead the relatively small disposal of its Northern Irish interests.
Trinity is expected to retain newspapers in Scotland and the English regions, while pushing for cost savings across the group.
As well as the Derry Journal, the Derry Journal Group comprises the Donegal Democrat, the Foyle News and the Letterkenny Listener. The NewsLetter forms part of Century Newspapers, which also includes the Belfast News and Farming Life.
Trinity has come under financial pressure over the past year as its national titles, including the Daily Mirror, have suffered all-time circulation lows.
Analysts have questioned the merits of a radical restructuring, warning that the sale of national assets would hurt the firm's valuation. A research note from Citigroup in London has described as "likely" the "spinning" off of smaller divisions, provided buyers can be found.
